Moneymarket Investment

[Maelly]

How do I invest on Moneymarket? Do I go through my bank - how (Internetbanking)?
Do I go via a thirdparty - how?

I have a couple of thousands to spare, so I was wondering how best to save it.

Thanks

 

[DJ...]

Speak to your bank or a financial advisor, although the latter is unlikely to suggest a moneymarket investment. Your bank will have moneymarket investment products...

 

[Dolby]

Also if you do go money market, remember they have a minimum (ABSA is R20,000)

 

[HypoThesis]

I opened one online just the other day actually. Standard Bank allows opening of investment accounts online...it takes 2 days for it to reflect though as they send the transaction request to your home bank first.

As Dolby says above, for Money Market accounts there are usually minimum balance/ deposit rules.

 

[RichardG]

I know for money market you need to have capital of R20 grand.
That is with Nedbank.

 

[Maelly]

Ok, sounds good. Thanks (though I dont have such a lot of cash)
Anyone who knows about FNB products?

 

[RichardG]

Ok, sounds good. Thanks (though I dont have such a lot of cash)
Anyone who knows about FNB products?

You'll earn more investment if you buy shares.

But with the markets being so crappy at the moment I would not recommend to buy any.

But if you do consider.

Buy into Gold, Oil, Diamonds.

Check at the Individual Public Offering

 

[Ecco]

have a look at the following website:

www.bankmonitor.co.za

I think some of their numbers are a bit outdated, but its a good indicator of where to start, and obviously confirm with the bank before taking out a product.

 

[HypoThesis]

My suggestion? Try Capitec Banks savings accounts, if you have below R20k but are looking for good interest...a fixed term savings account will give you 11.5% for anything below R10k. Here are their rates http://www.capitecbank.co.za/products_savings.asp#rates

Also Postbank's savings rates are pretty good as well. Their site is blerry slow though.

 

[xrapidx]

have a look at the following website:

www.bankmonitor.co.za

I think some of their numbers are a bit outdated, but its a good indicator of where to start, and obviously confirm with the bank before taking out a product.

Doesnt seem to be very accurate - busy looking at cheque accounts.

 

[3G-Spot]

How do I invest on Moneymarket? Do I go through my bank - how (Internetbanking)?
Do I go via a thirdparty - how?

I have a couple of thousands to spare, so I was wondering how best to save it.

Thanks

FNB MoneyMarket Invest: https://www.fnb.co.za/personal/save/investing/moneyMarketinvest.html

FNB Share Invest: https://www.fnb.co.za/shareinvesting/index.html

 

[Ecco]

yup, thats why i said, confirm with the bank - but it gives you a place to start looking

 

[Maelly]

Thanks once again guys.
Like I mentioned on my OP, "couple of Ks", so I will transfer it to my Capitec account atm. I will visit them in order to do a fixed/ flexible term.

Thanks guys

 

[Dolby]

I bought property shares on 13 October 2008.

3 months later (exactly) I'm at 25.2% increase ...

 

[Maelly]

FNB MoneyMarket Invest: https://www.fnb.co.za/personal/save/investing/moneyMarketinvest.html

FNB Share Invest: https://www.fnb.co.za/shareinvesting/index.html

Thanks man, I will check out the Money Market Link

I already have the FNB Share Invest

Ha Khensa (Thanks in XiTsonga)

 

[HypoThesis]

I bought property shares on 13 October 2008.

3 months later (exactly) I'm at 25.2% increase ...

Do share won't you...

Risk rating, fees involved, penalties etc...

 

[CathJ]

Bear in mind that there's a difference between money market funds (which is an investment fund), and a money market account (such as Standard Bank's MarketLink account). The bank account is obviously less risky, so make sure you know which you want and which you're getting!

 

[DJ...]

You'll earn more investment if you buy shares.

But with the markets being so crappy at the moment I would not recommend to buy any.

But if you do consider.

Buy into Gold, Oil, Diamonds.

Check at the Individual Public Offering

You're talking a bit of nonsense. There is money to be made in the market right now. And it is called an Initial Public Offering (IPO) and they are often fully subscribed to before private investors are offered the opportunity to partake. To suggest that a first time investor go after IPOs is a bit of lunacy.

And wrt gold, oil, diamonds - you don't sound qualified to be dishing out specific advice. If you'd have said platinum it might have given some weight to your POV, but you're clearly not following the markets if that's where you'd send a potential investor...

 

[Dolby]

Do share won't you...

Risk rating, fees involved, penalties etc...

I dunno :/ My stepfather does this for a living, so I signed over my life and he controls everything

I've had money in ABSA AIMS which is there 'investment' account for 36 months and got whacked with a R6000.00 maangement fee and R5000.00 broker fee.

When I enquired about the management fee and asked if slightly unreasonable, I was told to 'look at your contract and notice that you agreed to that fee'.

I think they could have done more than that reply tbh

 

[DJ...]

OP: why moneymarket though? It tracks inflation so there's no real profit derived. Bonds track inflation better but I doubt you'd want to go that route. If you have the cash lying around and are not nearing retirement, then why not just speak to a financial advisor for advice on how to invest it better?